Saudi Aramco CEO Warns Oil Market Won't Normalize Until 2027 If Hormuz Disruption Continues

Saudi Aramco CEO Amin Nasser warned that the oil market will not normalize until 2027 if disruptions in the Strait of Hormuz persist beyond mid-June. The disruption has caused a significant loss in supply, with an estimated weekly loss of 100 million barrels and a total net loss so far of 880 million barrels.

By Spencer Kimball · CNBC · May 11, 2026, 16:49 UTC

Tickers: $NAT

Topics: oil market normalization Strait of Hormuz tanker fleet disruptions

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